Question
Kerry Phillips is forecasting sales of her 100-room limited-service Phillips Inn. She forecasts by market segment. The most recent year's (20X3) percentage of rooms sold
- Kerry Phillips is forecasting sales of her 100-room limited-service Phillips Inn. She forecasts by market segment. The most recent year's (20X3) percentage of rooms sold and average daily room rate (ADR) by market segment were in the Excel:
On an average day, her Inn experiences a 75% occupancy. With considerable advertising she believes she can achieve an occupancy of 80%. Further, she believes she can increase the tourist segment up to 55% at the expense of the business segment. In addition, she projects ADR increases of 5%.
- Forecast the room revenue for January 20X4. (15 points)
| Kerry Phillips is forecasting sales of her 100-room limited-service Phillips Inn. She forecasts by market segment. The most recent year's (20X3) percentage of rooms sold and average daily room rate (ADR) by market segment were as follows: | |||||
| Segment | Percentage of Rooms Sold | ADR | |||
| Business | 40% | $ 85.00 | |||
| Group | 10% | $ 75.00 | |||
| Tourist | 50% | $ 90.00 | |||
| On an average day, her Inn experiences a 75% occupancy. With considerable advertising she believes she can achieve a occupancy of 80%. Further, she believes she can increase the tourist segment up to 55% at the expense of the business segment. In addition, she project ADR increases of 5%. | |||||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing Local Union Financial Records A Guide For Local Union Trustees
Authors: John Lund
1st Edition
0875461948, 978-0875461946
